Acreage Holdings CEO Kevin Murphy predicts Congress will pass cannabis banking reform this year.
- “Conservative Republicans are all about safety and they’re all about taking cash out of the system,” Murphy said.
- American Banker explains why key Senate Republicans aren’t sold on cannabis banking.
- Former Republican Speaker of the House John Boehner is on the Acreage Board. In WeedWeek I recently asked if Boehner is good for weed.
Murphy is less bullish on the States Act bill which would protect state legal cannabis businesses from federal interference. He doesn’t think anything similar will pass before 2021.
Related: Bloomberg profiles Dan Murphy, a conservative cannabis lobbyist. “If we had ten Don’s, cannabis would be legal by now,” NCIA lobbyist and fellow Republican Michael Correia said.
The American Bar Association says states should be able to set their own marijuana laws.